China Business & Economy

Big Four Accounting Firms Out of Favor in China: Deloitte’s Beijing Office Penalized

Big Four Accounting Firms Out of Favor in China: Deloitte’s Beijing Office Penalized
The Deloitte logo. Tim Boyle/Getty Images
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News Analysis

Deloitte, the accounting firm that was fined $20 million by the U.S. Securities and Exchange Commission (SEC) for shielding Chinese companies from U.S. oversight, has been hit with a fine of more than $30 million by the Chinese Communist Party (CCP). How did Deloitte find itself in this awkward position between the two big powers? An expert spoke with The Epoch Times to analyze why the Big Four accounting firms are being discarded by CCP authorities after they were punished by the United States.

Jenny Li has contributed to The Epoch Times since 2010. She has reported on Chinese politics, economics, human rights issues, and U.S.-China relations. She has extensively interviewed Chinese scholars, economists, lawyers, and rights activists in China and overseas.
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